Coastal Financial (NASDAQ:CCB) Hits New 12-Month High – Should You Buy?

Coastal Financial Co. (NASDAQ:CCB)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $97.55 and last traded at $96.68, with a volume of 247265 shares. The stock had previously closed at $92.15.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCB shares. Raymond James reiterated a “strong-buy” rating and issued a $100.00 price objective (up from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target on Coastal Financial from $92.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, Stephens restated an “overweight” rating and set a $100.00 price target on shares of Coastal Financial in a research note on Thursday, February 13th.

Coastal Financial Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $1.34 billion, a P/E ratio of 30.38 and a beta of 1.23. The firm has a 50 day moving average of $86.57 and a 200-day moving average of $70.30.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. On average, equities research analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coastal Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. acquired a new stake in Coastal Financial during the fourth quarter valued at approximately $172,000. Public Employees Retirement System of Ohio acquired a new stake in Coastal Financial during the fourth quarter valued at approximately $448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Coastal Financial by 101.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,417 shares of the company’s stock valued at $2,158,000 after purchasing an additional 12,814 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Coastal Financial during the fourth quarter valued at approximately $7,620,000. Finally, Squarepoint Ops LLC acquired a new stake in Coastal Financial during the fourth quarter valued at approximately $1,664,000. 59.24% of the stock is owned by institutional investors and hedge funds.

Coastal Financial Company Profile

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.